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Determine how the debt is secured by a personal guarantee

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Reference no: EM132476055

Question 1. If the outstanding debt is greater than $ __200,000__, always turn over to legal action when the debt becomes ___30__ days past due. (Note that when secured by a lien, the date by which legal proceedings must be initiated before the lien expires is set by statute).

Question 2. If the outstanding debt is between $ __6,000_, and $ _10,000__, send to legal action if the debt is secured by a personal guarantee, a joint-check agreement, or any other security.

Question 3. If the outstanding debt is between $ 10,000____, and $ _15,000__, send to legal action if the debt is secured.

Question 4. If the debt is $ _6,000___, or below, write-off debt and release the client.

Reference no: EM132476055

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